Thursday, April 30, 2015

Detroit's NEIdeas Program Awarding $500,000 in Grants to Small Businesses Again in 2015!

Last year, the city of Detroit launched a program called The New Economy Initiative, or The NEIdeas Program, which offered grants of $10,000 to $100,000 to small businesses in the cities of Detroit, Hamtramck and Highland Park, Michigan. The program was so successful that it is being offered again in 2015.How to apply

For the second year in a row, the program is being offered to existing small businesses who come up with great ideas for small business growth. Businesses that are at least three years old and whose companies have had a positive impact on their communities may apply. The total grant budget is $500,000 which will be distributed in 30 $10,0000 grants and 2 $100,000 grants. Small businesses may apply online; the deadline is in June.

Guidelines

Small businesses must be for-profit enterprises. Two grant categories are available. Companies who apply for a $10,000 grant must be existing businesses that gross under $750,000 annually. Small companies that apply for a $100,000 grant must be existing businesses that gross over $750,000 and under $5 million annually.

Eligible small businesses may apply by submitting, in 200 words or less, a great idea to help a business grow. The deadline for the $10,000 grant challenge is June 4, 2015, and the deadline for the $100,000 grant challenge is June 25, 2015.